Card Protection Plans - Which One?!

Lyra_2 · 1 August 2005 at 2:14PM

Hi,

I cannot find a discussion re. card protection plans. It seems to me a sensible precaution but I wouldn't like to pay over the odds and I'm unsure as to what to expect for my money?

For example CPP is offering a 1 year policy for £29 to cover as many cards as required in case of cards being lost or stolen. They will cancel the cards and order replacements and policy includes cover against fraudulent use of the cards to the value of £100,000 etc.

Has anyone done a comparison on the available card protection schemes?

Thanks!

Rafter · 1 August 2005 at 3:21PM

Lyra. You are covered against fraudulent use anyway, as long as your report the card lost or stolen in good time. These policies may give you a bit more protection if you don't realise your cards are missing for 24 hours.

These policies are good if you don't want the hasstle of calling all your providers as they do the hard work for you and arrange replacements.

Generally the policies are overpriced for the protection you are getting though and they are good money makers for the banks that sell them.

If you really want one there are two major providers: CPP and Sentinel. Don't think there is much to chose between them.

http://www.cpp.co.uk/

http://www.sentinelcardprotection.com/

Good luck.

R.

grumbler · 1 August 2005 at 4:10PM

Lyra wrote:

I cannot find a discussion re. card protection plans.

Credit Card Loss Protection

Credit card protection

Also: 'Credit card protection plans - a waste of money!' Martin's article

Reaper · 1 August 2005 at 6:01PM

grumbler wrote:

Also: 'Credit card protection plans - a waste of money!' Martin's article

Actually the article title is misleading and it has nothing to do with card protection plans, it only talks about PPI which is different.

grumbler · 1 August 2005 at 8:25PM

Reaper wrote:

Actually the article title is misleading and it has nothing to do with card protection plans, it only talks about PPI which is different.

I cannot choose but agree...:o

Lyra_2 · 1 August 2005 at 10:07PM

Thanks! You've all made me realise I don't need such plan at all. Wohooo :rotfl: Got £29 more to spend... I mean save.

overide · 1 August 2005 at 10:42PM

Even though I work for one of the companies and get my policy for free,I found it invaluble when I lost my wallet, as I was a bit of a stooger(?) and had quite a few cards in there and they were all cancelled straight away and renewed within the week.

We all hate paying for insurance but it is a fact of life and made my life easier.

Card Protection Plans - Which One?!

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